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Two new VCs join InvestMaryland program

01/31/2013

Two more venture capital firms have been selected to receive money for investing in early-stage businesses through the state’s InvestMaryland program.

New Atlantic Ventures in Reston will receive $8 million and Kinetic Ventures in Chevy Chase will receive $5 million through the program, which is run by the Maryland Venture Fund Authority. The $84 million InvestMaryland program will give two-thirds of its money to venture capital firms to invest in early-stage companies in Maryland and the Venture Fund Authority will invest the rest itself.